Wednesday, January 27, 2016

Germany's Bundesbank took more than 200 tonnes of its gold back to Frankfurt from overseas last year, the central bank reported today.

Just over 40 percent of itsgold reserves, which Germany started building in the post-war boom years, is now held underground at the Bundesbank in Frankfurt.

According to the World Gold Council Germany has 3,384.2 tons of gold, the second largest central bank gold holdings.

Until recently, Germany stored 69% of its gold abroad in London, Paris and New York. By 2020 the German Bundesbank claims they will have half of their gold in Germany, 37% at the New York Federal Reserve and 13% in London at the Bank of England.

Meanwhile, gold held by the Federal Reserve for foreign countries continues to fall as Germany and other countries continue to pull their gold holdings from the Fed vaults.